House Buying Thread

skullman80
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House Buying Thread

Postby skullman80 » Fri Jun 05, 2020 10:02 am

What is the mortgage rate nowadays?
We got 3.25% on a 30 year conventional with 5% down. If we would have played the waiting game we probably could have got a bit lower, but when it went to 3.25 I locked it in to save ourselves worrying about the fluctuation.

grunthy
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House Buying Thread

Postby grunthy » Fri Jun 05, 2020 10:03 am

What is the mortgage rate nowadays?
I have seen as low as 2.25 for 15 year loan and 2.75 for 30 year loan.

Troy Loney
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Postby Troy Loney » Fri Jun 05, 2020 10:03 am

Edit, in the 2's would be worth pursuing.

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Postby count2infinity » Fri Jun 05, 2020 10:19 am

They were in the upper 2's for a bit, but then rebounded back up. We locked ours just before the coronavirus was even confirmed to be in the US (the first confirmation, not the later, go back and look confirmation... mid February) and we had 3.375%. It then dipped into the 2's for a bit as the pandemic started and then shot back up to the mid/upper 3's once things started closing down. I stopped following it then after we closed in early April. But according to a few of my co-workers who just recently got mortgages, they're around 3.25% now.

These are all 30 year.

skullman80
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Postby skullman80 » Fri Jun 05, 2020 10:37 am

I will say to get some of these rates now you need to have a strong credit score and solid/good job history etc. They have tightened up on lending recently since the pandemic. Our whole process went pretty smooth but we both have long time jobs, credit scores around 800 and a good amount of assets etc.

I still won't breathe easy till I have keys in hand, but things are winding down.

grunthy
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Postby grunthy » Fri Jun 05, 2020 11:11 am

They were in the upper 2's for a bit, but then rebounded back up. We locked ours just before the coronavirus was even confirmed to be in the US (the first confirmation, not the later, go back and look confirmation... mid February) and we had 3.375%. It then dipped into the 2's for a bit as the pandemic started and then shot back up to the mid/upper 3's once things started closing down. I stopped following it then after we closed in early April. But according to a few of my co-workers who just recently got mortgages, they're around 3.25% now.

These are all 30 year.
My credit union is still offering 2.75%.

NTP66
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House Buying Thread

Postby NTP66 » Fri Jun 05, 2020 11:18 am

What is the mortgage rate nowadays?
I'm looking at 2.750% on a 10-year fixed with $130 in closing costs. The only thing stopping me is that if something happened to my job right now, my mortgage is still quite reasonable. If I go this route, I'm still paying less than I currently do (before additional principal), but the payment is still almost double.

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Postby meow » Sun Jun 07, 2020 8:43 am

I don’t look at my house value. Like ever. Decent to check it and it damn near doubled since we bought in 2016. That’s not normal, right?

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Postby NTP66 » Sun Jun 07, 2020 8:45 am

Maybe your area is 'up and coming'.

skullman80
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Postby skullman80 » Sun Jun 07, 2020 8:57 am

Final walkthrough Wednesday at 5:30. Just want to get this done at this point.

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Postby nocera » Sun Jun 07, 2020 10:00 am

I don’t look at my house value. Like ever. Decent to check it and it damn near doubled since we bought in 2016. That’s not normal, right?
Where did you check it?

NTP66
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Postby NTP66 » Sun Jun 07, 2020 11:34 am

Doubt it was Zillow. Redfin FTW, IMO.

skullman80
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Postby skullman80 » Sun Jun 07, 2020 3:19 pm

Drove by our soon to be new house and the old owners were packing up and moving out.

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Postby NTP66 » Sun Jun 07, 2020 3:29 pm

Image

skullman80
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Postby skullman80 » Mon Jun 08, 2020 11:18 am

Image
Haha. When we drove by my wife was like they better not mess up anything moving stuff out of "our" house. :lol:

We got the appointment for closing on Thursday and it's not till 3:30... my wife may go insane waiting all day.

Lots of furniture and other packages set to come the following week after we close. My wife decided to give all of our old living room furniture (end tables, coffee table, lamps etc) to my mother in law, as well as the tv stand and some other things. We wanted to get a king size bed, so now our bed is being given to her too as well as our bedroom furniture.

Surprisingly Verizon is giving me the most issues right now with setting up service. The prior owners had Fios there... great. They were still showing active when I placed my order for service. They wanted proof of ownership. No biggie.. here's the purchasing contract of the house and such. That was June 1st. It's June 8th and they are still reviewing it. We don't move in till the weekend of the 20th, but just send me the equipment the lines are already run I just need to hook stuff up.
Last edited by skullman80 on Mon Jun 08, 2020 11:29 am, edited 1 time in total.

NTP66
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Postby NTP66 » Mon Jun 08, 2020 11:19 am

Speaking of Verizon, are you wiring your house up for ethernet?

skullman80
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Postby skullman80 » Mon Jun 08, 2020 11:31 am

Speaking of Verizon, are you wiring your house up for ethernet?
TBD. I've only been in the house for a grand total of 3 hours and that was during inspection. I have to figure out where the main box is located and see how easy it is to wire ethernet everywhere. It's probably not necessary, the house is only like 2000 sqft (split level). I'd like to do it, it's just how much of a PITA is it going to be, and will I feel like doing it right away.

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Postby NTP66 » Mon Jun 08, 2020 11:48 am

**** that, just do it. Wireless can die in a fire.

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Postby mac5155 » Mon Jun 08, 2020 11:54 am

I wired my whole house for ethernet and never even hooked it up.

skullman80
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Postby skullman80 » Thu Jun 11, 2020 8:47 pm

We are officially home owners again. It's been a crazy few months but we finally got to the finish line.

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Postby skullman80 » Fri Jun 12, 2020 8:55 am

Looking back on this whole process and it all going down during Covid-19 it all went damn smooth. There were little to no delays, we got a great interest rate, got more money for our old house than we though and got basically a turnkey house to move into. It's crazy how it all worked out. Wouldn't do it again though haha.

We closed in 39 days on the new house from the time the contract was signed until we got the keys yesterday. We sold our old house during the lockdown period pretty much and had no real delays.

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Postby dodint » Fri Jun 12, 2020 9:30 am

Congrats man that's great. Anything to minimize the time spent living in someone else's basement has to be a blessing. ;)

Hoping to list in the next two weeks, just a couple small projects left and then we'll contact the realtor.

skullman80
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Postby skullman80 » Fri Jun 12, 2020 9:43 am

Congrats man that's great. Anything to minimize the time spent living in someone else's basement has to be a blessing. ;)

Hoping to list in the next two weeks, just a couple small projects left and then we'll contact the realtor.
Living in my mother in laws basement could have been way worse. The worst thing was probably the 10-15lbs I put on eating all of her good cooking haha. It allowed us to save up some money, and I was able to basically re-landscape her front yard and paint her entire upstairs for her. So it worked out for everyone.

We are still here till next weekend as that is when the big move is taking place. It's nice though to take over the little things, and get some stuff set up. Lots of furniture getting delivered next Thursday. I still fully expect something to go wrong before we move in, but I believe the hard part is over.

If you are putting your house up I think it's a good time. From what our real estate agent said inventory is reallllly low right now, so you should be able to get top dollar for your house.

NTP66
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Postby NTP66 » Fri Jun 12, 2020 10:17 am

Source of the post If you are putting your house up I think it's a good time. From what our real estate agent said inventory is reallllly low right now, so you should be able to get top dollar for your house.
My sister is on her third buyer. The first one left because their inspector was incompetent, and the second one left because she was nutso. Not sure what's going on with the third, but like I told my sister, she's getting a hell of a lot of interest, quickly. It's just a matter of time.

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Postby dodint » Fri Jun 12, 2020 11:34 am

Our neighborhood traditionally has a fast turnover rate. We just need to paint the living room and box up more stuff.

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